问题如下：
4. Given its objective and the three possible corporate actions, Skylark is least likely to select:
选项：
A. Corporate action 1.
B. Corporate action 2.
C. Corporate action 3.
解释：
C is correct.
At the current debt weight of 20%, the WACC is declining with increases in debt. If you calculate the WACC, it is currently 8.7% and would decline to 8.5% if the debt weight is 30%. Repurchasing shares or paying a dividend would increase the debt weight, which would reduce the WACC. Reducing debt would increase the WACC, so this is the corporate action that Skylark should be least likely to select.
为什么分红会降低equity？
